The Daily Telegraph and The Sunday Telegraph has been put up for sale by the owners, the Barclay brothers.
Sir David and Sir Frederick Barclay who have owned the papers since 2004 have been rumoured to have been looking for a buyer for a few years, but no deal has yet been secured. The profits of the media outlets dropped by 94 % from the previous financial year.
The Barclay brothers who own The Ritz Hotel, Shop Direct and Yodel are reported to be worth £8 billion according to The Sunday Time rich list. They are currently said to be looking at all their investments with The Ritz Hotel already being up for sale.